Has Anyone Ever Done A Double Close???

Posted on: Sun, 06/16/2013 - 09:51

vtjohnson21's picture

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Has Anyone Ever Done A Double Close???

Hi,

I am a Real Estate Investor in the MD area. If you have done a double close please explain here all the details and how the transaction took place..

*What it FSBO or REO?
*How did you structure your profit without closing cost or other expenseseating up your profits?
*How much was closing cost?
*If REO how does and who pays the realtor?
What state was this in?

These are just a few questions I have but if you could try to explain every detail, it would be greatly appreciated...

God bless

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by vtjohnson21
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Posted on: Sun, 06/16/2013 - 11:44 #1

thishousebuyer's picture

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My first deal was a simultaneous/dbl close

Ok, I can help answer some questions. Are you trying to figure out how to do one?

1. It was a Hud Property.
2. If I would've made more $, I could answer this. I only made $573 on this deal, because my original offer wasn't low enough.
3. Closing costs were about $400, through the local buyer's re attny.
4. This double closing happened in Kentucky.

The end buyer wanted to escrow the funds into my business name, so I could close on Hud. After the 1st closing with hud, I would close with the end buyer.

vtjohnson21 wrote:

Hi,

I am a Real Estate Investor in the MD area. If you have done a double close please explain here all the details and how the transaction took place..

*What it FSBO or REO?
*How did you structure your profit without closing cost or other expenseseating up your profits?
*How much was closing cost?
*If REO how does and who pays the realtor?
What state was this in?

These are just a few questions I have but if you could try to explain every detail, it would be greatly appreciated...

God bless

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